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From the above link:

"The fair value of XM’s FCC license was based on the Greenfield Method. The key assumptions in building the model included projected revenues and estimated start up costs,...

JMM, yes, Newman is correct. Sirius already adjusted the XM license to what they believe is the current fair value for the license -- being $1.3 billion. The Sirius license is still carried on the...

Sorry, didn't mean to dodge the question... the numbers are based on numbers as of 6/30/08. The merger closed the first week of August, so no -- it would not include the new debt issues.

However,...

These numbers are purely based on the ProForma attached to the last 10-Q. It will obviously change with the next filing this week.

First, when Sirius and XM "bought" their licenses from the FCC -- Sirius paid about $83 million and XM paid $89 million. They both carried that value on their books all along. When Sirius merged with...

It's not a model... it's just the math taken directly from the ProForma filing that was attached to the last 10-Q. Yes, there are reasons for the adjustments made...


Total assets:...

Assets minus liabilities, minus goodwill, minus intangibles... then adjusting for deferred revenue and the current fair value of the Sirius license -- which is not fully recognized on the balance...

Newman, when you say available -- what are you referring to? Did you mean shares available to be issued? Or shares registered for issuing?

What I'm getting at, is that Sirius has 3.2 billion...

I've stated it once, and I'll reiterate it now... the Book Value of this stock is somewhere in the mid to upper $0.30's -- depending on how you value the Sirius license. That said, any more...

How do you know what "on track" meant at the time he said it? Regardless, I'm not going to split hairs -- one thing I've noticed over the years, too many investors take statements way out of context...

Please post the statement made by management about sub numbers, verbatim. And where it was from so that it could be put in context.

TIA

This stock will be nowhere near above $1 in 6 months, IMHO.

If the R/S does not pass, then you'll see them panicking come June/July next year -- trying to throw a special stockholders meeting...

Emotions are a horrible thing to allow to enter into the voting process.

Keep this in mind, for those thinking that with a R/S that the pps will cause a bigger hit afterwards to your equity... this stock is already well below its FAIR VALUE.

So you're making an...

At least with a R/S you have some equity left. If they're delisted, it's a penny stock and your equity would take a bigger hit. Which do you prefer. It's not an ideal situation, but it's the lesser...

For those voting no on th R/S, remember this... if Sirius isn't able to get the stock above $1 in the next 6 months -- you'll all be wishing you had voted yes on the measure.